Objective
We will analyse the relationship between competitive equilibrium and cooperative solutions starting from the results by Forges, Heifetz and Minelli (Economic Theory, 2001). Our goal is to characterize exactly the amount of 'substitutability in information' that is needed to obtain convergence. We want to find a characterization similar to the one of Andersen and Zame (Econometrica, 1997), that is, we want to define a notion of how far an allocation is from being competitive, and then finding bounds on this distance. Those bounds will depend on the number of individuals in the economy (like in the case of complete information), but also on some characteristics of the information structure. It is planned to conduct research of the proposed project jointly with Enrico Minelli (permanent member of CORE). Dr. Minelli works and publishes since several years on genera equilibrium with asymmetric information and related fields. The possibility to work with him would Certainly deepen my understanding and broaden my knowledge of the subject. CORE senior members (for example the professors d'Aspremont and Mertens) are leading experts on the topic. Their advice will have a great Impact. Furthermore, I become more and more interested in stochastic games, where Prof. Mertens is one of the most distinguished researchers of the world.
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Programme(s)
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Funding Scheme
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Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Coordinator
1348 LOUVAIN-LA-NEUVE
Belgium
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.